Bloomberg Indonesia opted for less punishing social-distancing measures than its neighbors to stem the spread of the coronavirus. Now analysts are warning its economy will take much longer to recover than others in Southeast Asia. With the pandemic’s peak expected in late May, President Joko Widodo is recalibrating his strategy of large-scale social distancing rules and calling for a ramp-up ...

Bloomberg India’s government is allowing smaller neighbourhood stores to reopen, bringing relief to residents after a month into the world’s biggest lockdown that’s restricting 1.3 billion people. The shops can deploy a maximum of 50% of their staff, all wearing masks and following social distancing rules, according to the order issued by the home ministry. The order includes standalone stores ...

Bloomberg Singapore home prices fell less than initially estimated in the first quarter, with an extended lockdown threatening to further push down values as the residential property comes to a standstill. Housing prices fell 1% in the three months ended on March 31, data from the Urban Redevelopment Authority showed. That compares to a preliminary estimate of a 1.2% decline. ...

Bloomberg The Philippines is known for training nurses and exporting them to all corners of the world, but now the nation finds itself shorthanded just as its number of coronavirus infections and deaths skyrocket. The islands’ death toll from Covid-19 has surged nearly fivefold since April 1 to 462, and the confirmed cases have tripled to 6,981 as of April ...

Bloomberg The Trump administration faces significant hurdles in getting the Federal Reserve to help rescue an oil industry squeezed by plunging crude prices given the central bank’s aversion to helping specific industries and its lack of authority to help businesses that are insolvent. The Fed regards loan programmes aimed at a specific industry as credit allocation — something Chairman Jerome ...

Bloomberg India Grid Trust, an infrastructure investment trust backed by private equity fund KKR & Co and Singapore’s GIC Pte, is looking to add as much as $786 million of solar power projects to its portfolio and expects some financially stressed assets to become available in the wake of the coronavirus pandemic. The move is part of the firm’s plan ...

Bloomberg The rebound in oil after a historic crash drove a surge in ETFs that track energy producers amid skeptical calls from analysts. State Street’s $2 billion SPDR S&P Oil & Gas Exploration & Production ETF, or XOP, has jumped about 40% so far in April — on track for its best month on record. Meanwhile, the $8.8 billion Energy ...

Bloomberg German business confidence extended its slump in April with much of the global economy in lockdown and companies anticipating a prolonged period of subdued demand. The Ifo Institute’s index dropped to a record-low 74.3, well below economists’ median estimate. Reduced spending power from millions of furloughed workers and the persistence of the coronavirus pandemic in some of Germany’s largest ...

Bloomberg President Donald Trump signed a $484 billion spending package that includes more money for small businesses, the latest bid by Washington lawmakers to rescue an economy devastated by the coronavirus pandemic. “Great for small businesses, great for workers,” Trump said in the Oval Office. “This is a tremendous victory.” The new law would revive a small-business loan program that ...

Bloomberg Intel Corp. withdrew its full-year sales forecast, citing “significant economic uncertainty” caused by the Covid-19 pandemic. The company’s shares fell more than 5% in late trading. The world’s largest semiconductor maker reported a 23% jump in first-quarter revenue and better-than-projected profit, bolstered by demand for chips that run the laptops and server machines companies need to keep people working ...